Circle Invest, the Goldman Sachs-backed brokerage service behind the Circle stablecoin project, has announced the launch of three cryptocurrency index funds to compliment its Buy the Market services introduced in May.
— Circle Invest (@circleinvest) October 4, 2018
Unlike Buy the Market which allows customers to take tracked positions in a subset of leading cryptocurrencies, the new funds focus on specific industries that it considers likely to grow within the current cryptocurrency landscape.
“Crypto is complicated”
Platforms, Payments, and Privacy are the three key industries being targeted by Circle Invest, according to its Senior Vice President Divya Agarwalla in her most recent blog.
Use of the Buy the Market feature has exceeded 30% of Circle Invest’s customer base and the new funds will utilise a similar entry point where “Users will be able to purchase all the assets in each of these categories in one tap.”
“Crypto is complicated… Many projects aim to solve similar real-world problems, but take vastly different approaches to get there,” states Agarwalla, adding that “Projects like Bitcoin, Bitcoin Cash, Stellar, and Litecoin are trying to build superior payment rails based on blockchain technology so that making payments is as easy, instant, and as borderless as sending an email. If customers are passionate about this category of assets and want to invest, they can simply buy the Payments collection.”
Circle Invest “will also introduce new collections and relevant educational material so that customers can invest in the categories that most interest them” as the blockchain space evolves.
However, only eleven assets form part of the platform’s current offering, leaving some detractors to point out that Circle Invest’s index funds will need to grow if it is to attract a growing audience of retail investors to its platform.